Sources in several state governments as well as the Federal Ministry of Finance have disclosed to SaharaReporters that Nigeria’s cash flow woes appear to be worsening. For the second month in a row, the Nigerian government was unable to meet the schedule for disbursing monthly allocations from the federation account to states.
Our sources accused President Goodluck Jonathan’s administration of depleting the country’s foreign reserves and recklessly overspending budgeted funds.
One source revealed that the Federal Ministry of Finance has paid March monthly allocations only to some states. The allocations for April and May 2012 remain unpaid. As a result of what some of the sources described as a major cash flow crisis, many civil servants and National Youth Corps members have yet to receive their April salaries or allowances.
Written by CODED-ish
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